Ancom Logistics is eyeing a technical breakout as it attempted to move past the consolidation phase of MYR0.225 yesterday, before retracing mildly at the close. If buying re-emerges to surpass that level, the stock is expected to travel towards the next resistance of MYR0.265, followed by MYR0.315 – the highest level in 2022. Conversely, falling below the immediate support of MYR0.195 may trigger the resumption of a downward correction, as it forms a “lower low” bearish pattern.

Source: RHB Securities Research - 25 Mar 2022